Shiba Inu (SHIB) Price Doubles Over Past Week as it Gains on DOGE

Share Article
In Brief
  • Shiba Inu (SHIB) has more than doubled over the past week.

  • SHIB’s recent rally was sparked by a trademark cryptic Tweet from Elon Musk of his Shiba Inu “Floki Frunkpuppy,” on October 3.

  • According to CoinTrendz, SHIB recently received more Twitter mentions within an hour than Bitcoin, Ethereum, or Dogecoin.

  • promo

    Claim a $200 reward with 3 simple steps — only on Bybit!

The Trust Project is an international consortium of news organizations building standards of transparency.

Shiba Inu (SHIB) has more than doubled over the past week. Gaining on big brother Dogecoin (DOGE)

Sponsored





Sponsored

According to CoinGecko the price of SHIB increased 113.2% over the past seven days. This figure rises to 311.4% when considering a 14-day perspective. SHIB had previously directly trailed its antecedent DOGE, currently the top 10 cryptocurrency in market capitalization, but has since been eclipsed by LUNA for 11th place.

SHIB’s recent rally was sparked by a trademark cryptic Tweet from Elon Musk of his Shiba Inu “Floki Frunkpuppy,” on October 3. Within hours, SHIB had jumped 40%, essentially doubling in price by October 5. From there, it proceeded to peak on October 7, achieving just over double its value again. It fell markedly on October 8, but since it is trading at roughly double its value on October 5.

Sponsored



Sponsored

Musk’s tweet had also sparked rallies in other dog-related coins. The price of DOGE shot up 25% in the days following Musk’s tweet. Floki coin also got a boost, its price is up roughly 40% since Musk’s latest tweet and up over 300% since his first puppy tweet in September.

Persistent popularity

Aside from actual inflows, SHIB’s popularity has also been demonstrated in other forms. For instance, according to CoinTrendz, SHIB recently received more Twitter mentions within an hour than Bitcoin, Ethereum, or Dogecoin. SHIB outshone all other altcoins, including those in the top 10 market cap.

On October 11, SHIB got 419 mentions within an hour, while Bitcoin came in second place with 307. This was followed by Ethereum, with 188 mentions, Anyswap, with 176 mentions, and DOGE, with 134 mentions.

What do you think about this subject? Write to us and tell us!

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.
Sponsored
Share Article

Nick is a data scientist who teaches economics and communication in Budapest, Hungary, where he received a BA in Political Science and Economics and an MSc in Business Analytics from CEU. He has been writing about cryptocurrency and blockchain technology since 2018, and is intrigued by its potential economic and political usage. He can best be described as an optimistic center-left skeptic.

Follow Author

$200 reward waiting for you — Deposit, Trade, Follow and Claim today!

Discover

Limited offer! Learn to mine and trade crypto today for free

Go